A Strong Uptrend

Last time I said to stay away,but a strong upmove shows that there is a strong uptrend which can take NIFTY to higher levels.Now its clear that government will disinvest from few of the PSU's and also there can be some change in the FDI norms in the coming months,which I feel will give push to Indian Markets.Also the results of few companies were better than expected which eventually will provide strenght to our market.So on NIFTY (CMP-4568.55) you should keep a STL at 4400.
1.)UTTAM GALVA STEEL (CMP-66.25) target of 80 with STL 56.
2.)CROMPTON GREAVES (CMP-305.25) target 336 with STL 292.1
3.)BEML (CMP-1061.25) target of 1126 with STL 1025.
4.)PNB (CMP-716.2) target 774 with STL 695.

A Non Directional Event

So,now the second biggest event (i.e BUDGET) is over.Many experts said it was a non-event,few said it was good Budget for long term India story and few also said it was a Budget for "Aam Aadmi".But for me it was non-directional Budget from the perspective of STOCK MARKET,since it left many issues untouched which our market had expected that our Finance Minister will shower light on such as Disinvestment in PSUs,change in FDI norms,De-regulation of Oil prices and so on.And as a result our market has entered in a correction phase which can take NIFTY (CMP-4003.9) to a level of 3625.So I wont tell you to buy at current level.
1.)RIL (CMP-1775.15) -can come to level of 1706.But if it breaks this level it can even come down to a level of 1516.
2.)SBI (CMP-1543.65)-can come upto a level of 1362.
3.)AXIS BANK (CMP-738.25)-can come to a level of 698 and if it breaks you can see a level of 637,606.
4.)L&T (CMP-1356.55)-I am having a target of 1209.

***CMP - Current Market Price
I have not mentioned any STOP LOSS (STL) since I am of strong view of market coming down,but even if you feel, you can keep a 10% STL above the selling price.